Vidal Health Insurance TPA (Vidal Health) announced the 100 per cent acquisition of Vipul Medcorp Insurance TPA (VMC).
Pursuant to the acquisition, VMC will merge into Vidal Health, to create one of the top three TPAs (Third Party Administrator) in the country .
Commenting on the new acquisition, Girish Rao, Chairman and Managing Director, Vidal Health shared, “The business synergies of VMC and Vidal Health are remarkable. Both businesses complement each other’s strength in business verticals and geographical spread. We have been extremely successful in servicing customers across segments since nearly two decades. We are already the leaders in servicing government schemes in many states across the country. Our strength in servicing large corporate accounts is well known. This acquisition will give us similar scale in servicing retail individual customers. By bringing VMC’s business under the Vidal Health umbrella, we will now have a strong pan-India presence of customers and offices, which will allow us to service our customers’ needs even faster.”
Commenting on another parallel acquisition made by the Group, Rao added, “Vidal Health Group was an early mover in making an international foray six years ago. Vidal Health Group’s healthcare management (non-TPA) business segment has a large global network of providers to service our customers in the Middle East. [Along with this acquisition, Vidal Healthcare Services (VHC), the parent entity of Vidal Health has also acquired a group company of VMC- Vipul Medcare].
Pursuant to this acquisition Oman has been added to our already large presence in Dubai, Abu Dhabi and Qatar. We have also been investing in building a cutting-edge technology platform to service our customers. We are future ready to meet all the requirements of our insurance partners and customers. Customer satisfaction is at the core of our business and will remain the guiding principle for the merged entity”, Rao further added.
Vidal Health Group helps customers stay healthy. VHC’s well-developed wellness programme allows customers to manage their health as per their needs of fitness, diet or medication. This is delivered through a wellness-platform which can be accessed through an App or through web-service.
Through this platform VHC also offers tele-consultation and OP facility with over 4,000 physicians and specialists. The customers can avail of attractive discounts on pharmacy and diagnostics orders through this platform too.
Rajan Subramaniam, CEO, Vipul Medcorp said, “This merger will bring out the best from VMC and Vidal Health and set us up to deliver the best of the best services to customers. We are excited to be a part of this merger.”